Short squeeze alert: $15 billion Bitcoin time bomb

Bitcoin ( BTC ) suffered a sharp selloff last week, losing almost 1,000 millionaires a day as prices slid to as low as $109,000. The drop was followed by an altcoin rebound on Monday, September 29, as more than $260 million in BTC short positions were liquidated, fueling gains in Solana ( SOL ), Dogecoin ( DOGE ), Ethereum ( ETH ), and XRP , which also saw over $6 billion in inflows ￰0￱ Bitcoin’s total capitalization recovering to $2.23 trillion and the price seeing a 2.5% uptick on the daily chart ($112,042 at press time), though, investor sentiment appears to be somewhat better at the start of the new week. However, a large shadow still looms over the market, as there are another $15 billion in Bitcoin shorts ready to be liquidated if the price climbs back to $120,000, according to data retrieved by Finbold from ￰1￱ short positions.